Robeco Institutional Asset Management B.V. Sells 13,825 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

Robeco Institutional Asset Management B.V. decreased its position in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 41.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 19,901 shares of the semiconductor producer's stock after selling 13,825 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.06% of Silicon Motion Technology worth $1,219,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SIMO. Wellington Management Group LLP grew its stake in shares of Silicon Motion Technology by 1,250.9% in the 3rd quarter. Wellington Management Group LLP now owns 819,289 shares of the semiconductor producer's stock worth $41,989,000 after buying an additional 758,640 shares during the last quarter. Cooper Creek Partners Management LLC grew its stake in shares of Silicon Motion Technology by 771.4% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 760,554 shares of the semiconductor producer's stock worth $38,978,000 after buying an additional 673,278 shares during the last quarter. Invesco Ltd. purchased a new stake in shares of Silicon Motion Technology in the 3rd quarter worth approximately $32,024,000. Segantii Capital Management Ltd grew its stake in shares of Silicon Motion Technology by 178.0% in the 3rd quarter. Segantii Capital Management Ltd now owns 833,991 shares of the semiconductor producer's stock worth $42,742,000 after buying an additional 533,991 shares during the last quarter. Finally, Hudson Bay Capital Management LP grew its stake in shares of Silicon Motion Technology by 1,811.3% in the 3rd quarter. Hudson Bay Capital Management LP now owns 503,834 shares of the semiconductor producer's stock worth $25,821,000 after buying an additional 477,473 shares during the last quarter. Hedge funds and other institutional investors own 78.02% of the company's stock.

Silicon Motion Technology Price Performance

NASDAQ SIMO traded down $2.13 during midday trading on Thursday, hitting $78.18. 235,998 shares of the company traded hands, compared to its average volume of 438,053. The company has a market cap of $2.63 billion, a PE ratio of 44.64, a price-to-earnings-growth ratio of 0.74 and a beta of 0.87. The company's 50-day simple moving average is $76.21 and its 200-day simple moving average is $67.82. Silicon Motion Technology Co. has a 52 week low of $49.50 and a 52 week high of $95.33.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its earnings results on Thursday, May 2nd. The semiconductor producer reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07. The business had revenue of $189.31 million for the quarter, compared to analysts' expectations of $180.23 million. Silicon Motion Technology had a return on equity of 7.78% and a net margin of 8.34%. On average, research analysts predict that Silicon Motion Technology Co. will post 2.77 earnings per share for the current year.

Silicon Motion Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be given a $0.50 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.56%. Silicon Motion Technology's payout ratio is 113.07%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SIMO shares. B. Riley upped their price target on Silicon Motion Technology from $101.00 to $105.00 and gave the stock a "buy" rating in a research note on Monday, May 6th. Susquehanna upped their price objective on Silicon Motion Technology from $100.00 to $110.00 and gave the company a "positive" rating in a research report on Monday, May 6th. Morgan Stanley raised Silicon Motion Technology from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $59.00 to $88.00 in a research report on Monday, May 6th. Wedbush reaffirmed an "outperform" rating and issued a $85.00 price objective on shares of Silicon Motion Technology in a research report on Friday, May 3rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $85.00 price objective on shares of Silicon Motion Technology in a research report on Monday, May 6th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $91.13.

Silicon Motion Technology Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. The company offers controllers for computing-grade solid state drives (SSDs), which are used in PCs and other client devices; enterprise-grade SSDs used in data centers; eMMC and UFS mobile embedded storage for use in smartphones and IoT devices; flash memory cards and flash drives for use in expandable storage; and specialized SSDs that are used in industrial, commercial, and automotive applications.